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John Wilson

liquidity. Albert Dodd confirmed this to the board, reporting that of the sixty contracts for which the company had tendered over the previous two years, forty-nine had been lost on price alone.16 Above all, customers were increasingly nervous about placing significant orders with Ferranti International, given the intensifying rumours of either its impending break-up or complete closure. Another emerging problem was the loss of key staff, for example at highly successful activities such as simulation and training. As Ian Ball stated, ‘either by redundancy, transfer or re

in Ferranti: A History
Open Access (free)
Crisis, reform and recovery
Shalendra D. Sharma

family control of the chaebols by requiring enforcement on inheritance tax, among other things. As for the sixth to the sixty-fourth chaebols (or the so-called 6–64 chaebols), restructuring has been carried forward through the “voluntary workout program.” These workouts have been nominally organized around the 235 The Asian financial crisis so-called London rules, a voluntary extra-judicial process under which banks reschedule debt obligations in return for restructuring plans that include asset sales, closure of business lines, and other operational and organizational

in The Asian financial crisis